Thermadyne

Thermadyne; Rio De Janeiro, Brazil: Plant Closure

Traditional
Listing

Sealed Bid
Sale

Onsite
Auction

SITUATION: Thermadyne was a major manufacturer of welding and cutting products; it changed names to Victor Technologies in 2012. Prior to this time and after a year of negotiations with White Martins, the corporation that owned adjoining property, Thermadyne was unable to close the sale of their real property.

SOLUTION: They hired Schneider Industries (SI) to sell all of their personal property at auction. SI managed a very successful equipment and machinery auction which led Thermadyne to ask SI to sell their real property, as well, but the sale had to be negotiated within three months through a sealed bid sale, subject to seller confirmation. Within the time-line given, SI was able to present three proposals from interested buyers who were all competing with each other to purchase the building. The property was successfully sold.